According to a recent intelligence study conducted by Fairfield Market Research, the methanol market in Saudi Arabia is projected to experience a 4.7% growth in revenue through the end of 2025. This growth is primarily driven by the rising methanol uptake across various industries, including pharmaceuticals, plastics, paints and adhesives, resins, plywood, foams, perfumes, and explosives.
The key insights and trends in the global methanol market also apply to the Saudi Arabian region. Coal remains the dominant feedstock, accounting for over 65% of the market share. Energy and Methanol-to-Olefins (MTO) applications are expected to contribute significantly to methanol consumption, making up more than 60% of the market share.
The methanol market in Saudi Arabia is poised for significant growth, in line with the global trends observed in the industry. With robust demand for methanol and its diverse applications, the region is expected to witness a steady increase in revenue in the coming years.
For more information, please refer to the full report: https://www.fairfieldmarketresearch.com/report/methanol-market
Methanol continues to be a preferred versatile feedstock for several end-use industries. Flowing methanol uptake by pharmaceuticals, plastics, paints and adhesives, resins, plywood, foams, perfumes, and explosives industries will drive the global methanol market forward. Up from the valuation of nearly US$44.4 Bn registered in 2021, the global methanol market is expected to grow 1.4x, as indicated by a newly released research intelligence study of Fairfield Market Research. Over the recent past, there has been a growing consideration of methanol as an economically viable and potentially safer, more efficient alternative to conventional marine fuels.
According to the report, this will work to the advantage of the worldwide methanol market. The clean-burning potential of methanol is likely to keep building the boom around it against gasoline, says the report. Demonstrating an estimated CAGR of 4.7% over 2022 – 2029, methanol market revenue will most likely reach US$72.9 Bn by 2029 end.
Key Insights and Trends Across the Global Methanol Market
Coal is slated to remain the top-performing segment based on feedstock, currently holding over 65% market share
Energy & MTO applications are poised to register the maximum consumption of methanol, making up for more than 60% market share
Formaldehyde will continue to see an upswing in demand as it sees sustained uptake across the critical application areas, including paints and adhesives, automotive, plywood, textile, pesticides, plastics,
construction, and personal care
Methanol Market to Witness Dominance of Coal over Other Feedstock Options, Formaldehyde Remains Top-selling Category
Among chemicals, formaldehyde has been the top-selling segment owing to its widespread application base in manufacturing urea, melamine, and phenol-formaldehyde resins. With over 20% share in the overall methanol market value, formaldehyde is expected to retain the top spot through the end of 2025. Moreover, formaldehyde is increasingly considered an ideally blended fuel candidate, which further strengthens its market potential to a large extent.
The report marks coal as the most preferred feedstock based on its cost-competitive attribute. Coal consumption recorded a market share of more than 65% in 2021 and will remain on the bandwagon throughout the projection. Application-wise analysis of the market reveals that energy & MTO will continue to represent the most lucrative segment, with a share of over 60% in the methanol market. Escalating demand for energy-related applications like fuel blending, DME, biodiesel, and MTBE/TAME is expected to play a significant role, says the report.
Read More: https://www.fairfieldmarketresearch.com/
